Funding arb · Price arb /

PONS

all PONS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0063%/8h= +6.9% APRpaid last 24h −0.077%

Price spread now: Nado against BingX+0.139%7-day average −0.026% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$102as in the Price arb table

costs, in and out, $10k−$1181.185% of the position

Long on BingX Short on Nado

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.316%−$32 on $10k

Price spread, last 3 days (all we have)+0.117%+$12 · spread now +0.139%, 7d avg −0.026%

Together, before fees−0.199%+ Points / potential airdropNado: Active · farm board−$20 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and Nado is 0.164% dearer against BingX than usual: you sell high and buy low: +$16 more if the spread goes back to its 7-day average of −0.026%. Mind the row above: over the last 3 days funding on this pair cost −0.316%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX PONS-USDT	0.5875	0.0174	pay 0.0087% / 4h	2h 47m	—	$3.1M	—
Short	Nado PONS-PERP	0.5883	0.0237	get 0.0030% / 1h	47m 52s	$89K	$103K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Nado against BingX. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee BingXbpFee NadobpOrdersPrice spread, now +0.139%Rate

Funding earned: $13.25
Price spread: +0.139% → −0.026%: $16.42
Slippage, 4 orders: −$108.48
Fee BingX: 5 bp × 2 orders: −$10
Fee Nado: 0 bp × 2 orders: $0
Net: −$88.81
Costs to cover: 1.185%
Break-even: 53.9 days

Slippage from BingX: live order book, 2 min ago; Nado: live order book, 31 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again

Leg	Half-spread	$10k	$100k	$1M	$5M
Buy BingX live order book, 2 min ago	1.70 bp	11.7 bp −$12	36.8 bp −$368	258.2 bp −$25.8K	doesn't fit
Sell Nado live order book, 31 min ago	19.48 bp	49.5 bp −$50	doesn't fit	doesn't fit	doesn't fit

PONS on 30 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
gTrade (Gains Network) PONS/USD	L +0.0032% / S −0.0034%	1h	0.5878	+0.047%	$216K	—	150x	as long as short
Injective PONS/USDC PERP	+0.0066%	1h	0.5920	+0.759%	$609	$6K	5.5x	as long as short
Lighter RH PONS	+0.0096%	1h	0.5882	+0.117%	$396K	$2.6M	3x	as long as short
Popdex PONSUSDT	+0.0096%	1h	0.5882	+0.119%	$21K	$456K	20x	as long as short
Bybit PONSUSDT	+0.0100%	4h	0.5872	−0.051%	$17.8M	$31.6M	20x	as long as short
OKX PONS-USDT-SWAP	+0.0100%	4h	0.5872	−0.051%	$13.5M	$55.6M	20x	as long as short
KuCoin PONSUSDTM	+0.0100%	4h	0.5876	+0.024%	$1.7M	$3.7M	20x	as long as short
Bitget PONSUSDT	+0.0100%	4h	0.5875	+0.007%	$4.6M	$11.6M	20x	as long as short
Variational Omni PONS	+0.0100%	4h	0.5902	+0.452%	$1.4M	$4.3M	—	as long as short
ApeX Omni PONSUSDT	+0.0100%	1h	0.5913	+0.650%	$34K	$327K	5x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Orderly PERP_PONS_USDC_mythos	+0.0100%	4h	0.5888	+0.216%	$2K	$3K	10x	as long as short
SunX PONS-USDT	+0.0100%	4h	0.5880	+0.094%	—	$1.4M	10x	as long as short
SoDEX PONS-USD	+0.0100%	1h	0.5880	+0.094%	$27K	$536K	3x	as long as short
HTX PONS-USDT	+0.0100%	4h	0.5893	+0.308%	$64K	$503K	20x	as long as short
Phemex PONSUSDT	+0.0100%	4h	0.5883	+0.136%	$1.6M	$3.3M	20x	as long as short
Aevo PONS-PERP	+0.0120%	1h	0.5881	+0.109%	$366	—	3x	as long as short
Extended PONS-USD	+0.0152%	1h	0.5875	+0.008%	$105K	$528K	5x	as long as short
Binance PONSUSDT	+0.0156%	4h	0.5875	+0.001%	$38.2M	$98.1M	20x	as long as short
MEXC PONS_USDT	+0.0164%	4h	0.5877	+0.034%	$7.6M	$5.1M	20x	as long as short
BingX PONS-USDTlong	+0.0174%	4h	0.5875	long leg	—	$3.1M	—
edgeX PONSUSDC	+0.0189%	4h	0.5914	+0.656%	$21K	$293K	10x	as long as short
Aster PONSUSDT	+0.0210%	4h	0.5875	+0.002%	$1.1M	$2.2M	20x	as long as short
Nado PONS-PERPshort	+0.0237%	1h	0.5883	+0.139%	$89K	$103K	5x
Polymarket Perps PONS-USD	+0.0340%	1h	0.5881	+0.099%	$38K	$1.8M	3x	as long as short
Gate PONS_USDT	+0.0402%	4h	0.5874	−0.017%	$5.1M	$6.7M	20x	as long as short
BloFin PONS-USDT	+0.0404%	4h	0.5886	+0.187%	$1.7M	$964K	20x	as long as short
Pacifica PONS	+0.0474%	1h	0.5884	+0.161%	$47K	$102K	3x	as long as short
Hyperliquid PONS	+0.0639%	1h	0.5874	−0.015%	$58.7M	$29.8M	3x	as long as short
Lighter PONS	+0.0760%	1h	0.5885	+0.163%	$1.7M	$879K	3x	as long as short
Phoenix PONS	+0.1275%	1h	0.5909	+0.587%	$27K	$86K	3x	as long as short